You should be concerned. If you're running is sub-par in training, the adaptation from your training is going to be minimal. If you can't hit top speed in training because your legs are destroyed, you're not progressing. Your strength is not your limiting factor. I'm 185lbs and squat about 80lbs less than you...yet I run 100m nearly a second faster.

You need to be focusing on training your CNS to fire harder and faster...that's going to happen with quality sprinting and plyometrics. Do you do any plyos?

I'll just reiterate that you're going to be better off with deadlifts than squats. Do with that what you will. More than a few real track coaches go with weight programs that are predominantly or entirely deadlifts in the weight room. Single leg lifts are also beneficial, possibly more so than the two-legged squat (since the first .1 seconds of the race when both legs drive into the blocks is the only time that both legs are pushing at the same time).